Gladstone Investment Correlations

1G3 Stock

EUR 12.89 0.46 3.70%

The current 90-days correlation between Gladstone Investment and ATHENE HOLDING PRFSERC is -0.13 (i.e., Good diversification). The correlation of Gladstone Investment is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Gladstone Investment Correlation With Market

Very weak diversification

The correlation between Gladstone Investment and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gladstone Investment and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Gladstone Investment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gladstone Investment when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Gladstone Investment - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Gladstone Investment to buy it.

Moving together with Gladstone Stock

0.8	CSA	Accenture plc	Pair Corr
0.75	SCG	SPORTING	Pair Corr
0.67	LTR	Loews Corp	Pair Corr
0.61	CHV	Chevron	Pair Corr
0.72	NVD	NVIDIA	Pair Corr
0.66	NT4	Northern Trust	Pair Corr
0.61	G7W	Games Workshop Group	Pair Corr

Moving against Gladstone Stock

0.55	VOW	Volkswagen AG	Pair Corr
0.53	VOW3	Volkswagen AG VZO	Pair Corr
0.52	VOW3	Volkswagen AG	Pair Corr
0.51	VOWB	VOLKSWAGEN AG VZ	Pair Corr
0.43	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	1G3	ATR0	CVV	WN3	IBM	XGH	WRC	GM0N	DBK	J7Z
1G3		0.61	0.44	0.4	0.44	0.44	0.25	0.57	0.51	0.56	1G3
ATR0	0.61		0.24	0.11	0.57	0.72	0.49	0.95	0.63	0.92	ATR0
CVV	0.44	0.24		0.59	0.32	0.32	0.08	0.16	0.36	0.19	CVV
WN3	0.4	0.11	0.59		0.05	0.33	0.13	0.13	0.17	0.18	WN3
IBM	0.44	0.57	0.32	0.05		0.37	-0.1	0.48	0.72	0.52	IBM
XGH	0.44	0.72	0.32	0.33	0.37		0.39	0.7	0.55	0.69	XGH
WRC	0.25	0.49	0.08	0.13	-0.1	0.39		0.53	0.19	0.45	WRC
GM0N	0.57	0.95	0.16	0.13	0.48	0.7	0.53		0.51	0.94	GM0N
DBK	0.51	0.63	0.36	0.17	0.72	0.55	0.19	0.51		0.51	DBK
J7Z	0.56	0.92	0.19	0.18	0.52	0.69	0.45	0.94	0.51		J7Z
	1G3	ATR0	CVV	WN3	IBM	XGH	WRC	GM0N	DBK	J7Z

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GM0N	+ 0.95	ATR0
J7Z	+ 0.94	GM0N
J7Z	+ 0.92	ATR0
XGH	+ 0.72	ATR0
DBK	+ 0.72	IBM
GM0N	+ 0.7	XGH

High negative correlations

WRC

- 0.1

IBM

Risk-Adjusted Indicators

There is a big difference between Gladstone Stock performing well and Gladstone Investment Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Gladstone Investment's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
1G3	1.43	0.12	0.06	0.14	1.71	(1.50)	3.56	(2.39)	12.42
ATR0	0.50	0.10	0.07	(1.92)	0.36	(1.02)	0.92	(0.91)	3.43
CVV	2.40	0.23	0.06	2.54	2.80	(2.89)	5.26	(4.84)	17.17
WN3	2.13	0.62	0.27	5.86	1.44	(3.22)	2.99	(2.42)	51.54
IBM	1.07	0.15	0.10	0.27	1.20	(1.14)	3.00	(2.84)	7.80
XGH	2.46	0.49	0.13	0.84	3.03	(2.97)	6.45	(3.91)	21.45
WRC	28.32	9.75	0.38	(5.33)	15.95	(71.15)	48.15	(34.15)	584.17
GM0N	1.40	0.35	0.18	(1.20)	1.30	(1.90)	3.90	(2.17)	17.60
DBK	1.13	0.11	0.06	(0.41)	1.38	(1.19)	2.12	(2.41)	6.87
J7Z	1.51	0.29	0.17	0.43	1.52	(1.74)	4.58	(2.65)	10.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gladstone Investment without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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